the real big event happened in the summer night 299 were bill clinton made a really mandatory, although it come back a few years. he said freddie mac and fannie mae has to have at least half your loans in affordable housing i.e. subprime lending. that was a dramatic announcement because of the size of freddie and fannie. a number of economists identify the risk involved in this issue and said listen, danny and freddie are so big that there's no way they can meet this goal without radically reducing lending standards in the home mortgage business. so it is not that big. if they achieve that goal, they're taking so much risk that studying for any candidate in financial trouble and they are so big they can take a couple u.s. financial system. nine years later it has been. what freddie and fannie failed, the outside trying dollars and they had $2 trillion in subprime mortgages. even before they failed, they would average 1000 to one. it would be like you having a net worth of $10,000. the only way you can do that is if the government guarantees your debt and this is something way under esti